Hot Stocks: Arbitron, Vanda, Allstate

By Mia Lamar

Vanda Pharmaceuticals Inc. reported positive findings from a late-stage study of its treatment for patients with a chronic circadian rhythm disorder. Shares jumped 27% to $4.10 in premarket trade.

Nielsen Holdings N.V. agreed to acquire the media-and marketing-research company Arbitron Inc. for roughly $1.26 billion in cash. Nielsen said it will pay $48 per Arbitron share, a 26% premium to the stock’s Monday close. Shares rose 25% to $47.35 premarket.

Galena Biopharma Inc. plans to offer an undisclosed number of stock and warrants, saying it will use proceeds for ongoing drug trials and other corporate needs. Shares dropped 16% premarket to $1.58.

RAIT Financial Trust launched an offering of nine million shares, with plans to use the proceeds for business investments and other purposes. The real-estate investment trust recently had 49.9 million shares outstanding. Shares were off 6% to $5.62 in premarket trading.

Allstate Corp. said its board has approved the repurchase of as much as $1 billion of the company’s shares, as it seeks to boost shareholder returns, while at the same time issuing the same amount in subordinated debt.

The Bancorp Inc. has unveiled a public offering for $50 million of its stock and plans to use proceeds for general corporate purposes, including the support of its ongoing and future anticipated growth. The holding company for the Bancorp Bank recently had a market capitalization of around $392 million, according to FactSet.

Diamond Foods Inc. swung to a fiscal first-quarter loss as the snack-food company was again hit by expenses related to the investigation of an accounting scandal and the restatement of its earnings.

Eli Lilly & Co.’s board authorized a $1.5 billion share-buyback program, joining a list of companies making shareholder-friendly moves. The drug maker, which expects to complete the buyback program during 2013, said the acquired shares will be retired.

Gulfport Energy Corp. plans to acquire around $300 million in additional oil and gas assets in the Utica Shale, and is planning a stock offering to fund the purchase.

Liberty Global Inc. has launched an offer of 35 euros a share, or $46.10–equating to $2.5 billion–for the shares it doesn’t already own of Telenet Group Holding NV, sticking with its previous bid in the face of the Belgian cable company’s own higher-valuation assessment.

SHFL Entertainment Inc.'s fiscal fourth-quarter earnings rose 11% as the casino-games company continued to benefit from growing revenue from royalties.

Solar Capital Ltd. has agreed to pay about $275 million to buy Crystal Capital Financial Holdings LLC, saying it believes the commercial finance company’s business can take in attractive returns in an uncertain market.

Steel Dynamics Inc. said it expects overall steel shipments in the fourth quarter to be roughly flat compared with the third quarter, saying economic and political uncertainty continue to impact buying patterns. Still, the steel producer gave a fourth-quarter earnings estimate that topped Street expectations.

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